Hi Roy Its been a good ride, I suspect that there is little more...

Hi Roy

Its been a good ride, I suspect that there is little more to go before this upswing terminates. In my earlier reply to you on the 27/10 I suggested January/ February top. The Fib's suggest now a top around 1.75 to 1.83 mark, but that's just a guide. However I think that this top is coming earlier , the very latest I would be holding to is the 29th of December. So far this upswing has been a 27 day run and too the 29/12 will make it a 39 trading day run (a very big run). There should be a DCL (daily cycle low ) before and around the time of the FED announcement causing a drop for a number of days. Thats 13-14/Dec. Aussie markets tend to have a Santa rally after this time. Its a good time to get out.

Have a look at the last two years charts. A significant downswing occurs twice to mid February. After such a long run upwards swing that the shorters have been riding I think that their action will start in the new year with mid February low as a target.

Roy I think that its again going to be a good time to sell high and buy low.

cheers Lies